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Information from the Hanoi Stock Exchange (HNX) shows that Hyosung Vina Co., Ltd., a chemical company with charter capital of 30,882 billion VND (nearly USD 1.2 billion), has completed the issuance of the HOS12601 bond lot worth 200 billion VND. The bonds have a 12-month tenor and a fixed interest rate of 9% per year.
The HOS12601 bond lot was issued in the domestic market with a quantity of 2,000 bonds. Each bond has a par value of 100 million VND, and the issued value totals 200 billion VND.
HOS12601 is a “3-no” bond lot, meaning it is not convertible, not accompanied by warrants, and not secured. The depository institution is Shinhan Vietnam Securities Co., Ltd.
HNX data indicates this is Hyosung Vina’s second bond issue.
Previously, on June 24, 2025, Hyosung Vina completed the issuance of HOS12501 with a value of 250 billion VND, a 12-month tenor, and a fixed interest rate of 7% per year. On December 24, Hyosung Vina purchased the entire HOS12501 early, bringing the company’s bond debt to zero before the end of its 2025 fiscal year.
Hyosung Vina’s 2025 fiscal year results remained weak. The company reported a net loss after tax of 4,208 billion VND, slightly lower than the 2024 loss of 4,261 billion VND.
Cumulatively, total losses expanded to 21,566 billion VND, a figure described as notable relative to the company’s capital size.
As of December 31, 2025, Hyosung Vina’s equity was 9,995 billion VND, up more than fivefold from the beginning of the year (1,902 billion). Within this, owner’s equity was 30,882 billion, but it was significantly eroded by undistributed after-tax losses of 21,566 billion and a foreign exchange difference of 679 billion.
By year-end 2025, total liabilities were 18,152 billion VND, down nearly 10,000 billion VND compared with the start of the year.
Bank borrowings decreased by 10,800 billion VND to 11,857 billion. In contrast, other liabilities rose by more than 1,300 billion VND to 6,295 billion.
The article notes that Hyosung Vina was established in May 2018 and operates in chemical production. It is a subsidiary of Hyosung Chemical Group (Korea), which holds 51% of charter capital, while 49% is owned by Hyosung 1 LLC. The legal representative is CEO Kim Jong Ki.
With charter capital nearing 31,000 billion VND, Hyosung Vina is described as a large player in Vietnam’s chemicals sector. However, persistent losses are eroding its capital base, raising questions about future operational efficiency and financial balance.
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